Tenneco makes inventory adjustment to prior results – Tenneco Inc. (NYSE:TEN) | United States International Supply Chain Commission

Tenneco (NYSE: TEN ) issues an adjustment to certain Q4 and full year results.

The company says an adjustment to inventory primarily within one distribution center related to the legacy Federal-Mogul North America Motorparts business resulted in a reduction to pre-tax income of $27M, or a $20M impact to Q4 net income. The adjustment encompassed manual processes that have largely been automated over the past year.

Tenneco believes that this adjustment will not materially impact its Q1 and full year outlook provided on February 20.

TEN +0.109% premarket to $9.18.

Source: Press Release

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